You have just won $50,000 on your Scratch and Win ticket, but you won't be awarded the money until your 40th birthday, 20 years from now. If the appropriate discount rate is 15%, what is the present value of your winnings?

A) $3,055.01
B) $3,513,27
C) $2,656.53
D) $3,048.78
E) $3,067.49


A

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